That's going to be an issue when you try to close and if not sufficiently sorted, you won't be able to refi into a traditional mortgage product.This may be an unique opportunity, if you're willing to do the the work.

A lot of people who do know how to make it work like you do will hop on here and talk about how much cash flow and possibility there is, saying it to the masses, while never clarifying how unique or intensive it is to make that happen.

Will the rates be inflated due to the unique nature of the property?

Question(s) for a unique scenario: My 2 siblings and I are considering pitching in and co-signing together on a large home for us to move into with our parents and extended family in North Florida where the homes are A LOT cheaper than in South Florida where I currently live. 

In areas where there's not  lot of activity or for unique properties where truly comparable sales are hard to come by, appraisers can color outside the lines and go into competing neighborhoods, expanded distance or even further back in time than would normally be acceptable.

My tenants are responsible for all utilities and landscape maintenance, except for a few unique situations.

I have a special addendum for animals (pets or support animals), horses, septic systems, and a couple other unique items.Most people sign the lease and shove it in a drawer where it's forgotten.

Thanks againhttps://casetext.com/statute/california-codes/california-revenue-and-taxation-code/division-2-other-taxes/part-11-corporation-tax-law/chapter-7-net-income/article-3-items-not-deductible/section-244365-interest-depreciation-taxes-or-amortization-paid-with-respect-to-substandard-housing

It all depends on your unique situation.  

Texas is a unique state that it does not have a state income tax.